How many LLC's should I form for my rental properties?

[Lance Thompson]

Good people,

I’m quite sure very few of you have to be told just how "risky" it is to own rental property in your own name. You definitely give yourself maximum protection from lawsuit when you have your rental property or properties owned by an LLC instead of in your name. So from there, the question is "Exactly how many LLCs should I form per property??". I think you’ll find this article from this Arizona law firm Keyt Law, LLC Attorneys very interesting. Check it out when you get a chance.

How Many LLCs Should I Form for My Properties?

By the way, do NOT be deterred when a bank tells you that you have to have the mortgage "paid off in full" in order to place a property under an LLC. I’ve had more than 1 real estate attorney tell me that what you need to do is shop around and talk to "many banks and lending institutions" to get a 2nd, 3rd, 4th, 5th, 6th or 7th opinion. Just because 1 bank won’t allow you to place your property under an LLC doesn’t mean that all banks won’t. Do your due diligence on that.